Archive (2022 June)

CALLING ALL INTERNS AT IRUA MEMBER COMPANIES!!

Have summer interns?  The IRUA Scholars Committee is pleased to bring back this FREE  EVENT which will give your interns a first-hand look at the reinsurance business from active practitioners.

Thursday, June 30, 2022
12:00 pm – 2:00 pm
Attend Either in Person or Virtually

PLEASE NOTE THAT THE IN-PERSON CAPACITY IS FILLED SO NO NEW REGISTRATIONS WILL BE ACCEPTED   VIRTUAL REMAINS AVAILABLE 

Trans Re, located in downtown Manhattan, is hosting an IN-PERSON & Virtual event including LUNCH at their offices on June 30, 2022.  The event will start at 12 Noon (EST) and run until approximately 2:00 pm.   This event is also be offered VIRTUALLY via Microsoft Teams commencing at 12.30 p.m. after the lunch time portion of the meeting.

Danny Hojnowski, Vice President 0 US Casualty E&O Underwriting of Transatlantic Reinsurance Company will introduce the following professionals who will talk for 10-15min each about how they got into reinsurance, what they do, what they enjoy about their jobs, and why reinsurance is a great career opportunity.

• Kate Tyler – Sompo International – Casualty/Specialty Underwriting
• Jim Rizzo – Beazley – D&O Underwriting
• Miguel Canals – TransRe – Cyber Reinsurance
• Ed  Staryarsky – TransRe – Property Re (Modeling and Underwriting)

Plenty of time has been built into this informal program allocated for questions f as to allow for the most interactive discussion as possible.  Interns will come away informed and excited to become part of the industry.

*****  There is NO CHARGE for Either the In-Person & Lunch or Webinar Attendance  *****

REGISTRATION
Registration is Incredibly Easy! Simply send an email with attendees name,
email address and company they are interning at to:

Maria Sclafani, IRUA’s Executive Administrator at: mcs@irua.org  

 Note:  IN-PERSON Attendance is Limited to 45 people so don’t delay! REGISTER TODAY.

In-Person Attendance Location
Transamerica Reinsurance, 1 Liberty Plaza, 165 Broadway, New York

Virtual Attendance
  Connection details will be sent on Wednesday June 29
Registrations will be accepted up until 12 Noon EST on June 29.

VITAL ATTENDANCE REQUIREMENTS:
You will need to show your photo ID and PROOF of COVID-19
vaccination to be permitted to enter the building

NO VAX – NO BUILDING ENTRY

IRUA is, once again, grateful to Trans Re and, in particular, Danny Hojnowski for arranging and hosting this event in their “Excellent” NYC office! Thank you to Trans Re.

CYBER UNDERWRITING UNMASKED*
Tuesday, June 14, 2022 ♦ 12:00 – 1:00 pm (EST) ♦ Presented Via Zoom

Guest Speakers
Annamaria Landaverde
Cyber Practice Lead, Reinsurance Division
Munich Re US

Rachel Rossini
Product Manager- Cyber and Technology E&O-U.S.
AXA XL

This webinar will focus on the underwriting of cyber exposures.  Leading expert practitioners will explain the development of cyber exposure from how it is recognized today to its continuing evolution.  This is, and will continue to be, an extremely topical issue which has implications for multiple aspects of an enterprise.

This session is part of our “Reinsurance Basic Syllabus Series” program, forming part of a “Reinsurance Basic Syllabus”.  This initiative brings a series of 12 topics together for those professionals who have recently joined the industry or who have just a few years of experience.  It is intended to be a “Reinsurance Primer Series” of basic topics and which will be offered on a rolling two-year cycle.  A Certificate will be issued to participants who complete 10 of the 12 topics.  

Registration Fees:
Members: IRUA corporate & Individual members – $75
Members must log in to receive the discounted rate.
Non-Members – $95

Please Note: Before registering and if you are not sure if your company is an IRUA member, please see the “crawler” on our homepage that features all IRUA member companies.

CATASTROPHE MODELING FOR UNDERWRITERS & BROKERS*
Tuesday, March 22, 2022 ♦ 12:00 – 1:00 pm (EST) ♦ Presented Via Zoom

Presented By

SUSAN DENIKE, Guy Carpenter
 Managing Director, North America Catastrophe Advisory

and

SARAH MACIOROWSKI, Guy Carpenter
Assistant Vice President

CLICK  HERE TO REGISTER

Cat modeling is part of all broker’s or underwriter’s work but what does it all mean?  Your presenters will explain what the components, acronyms and key metrics mean and how data drives modeling results.  Hear about different models – including for emerging risks – their output, and how they can be interpreted and applied.  This webinar is suitable for all involved in both property and casualty cat products and lines, including casualty clash and workers compensation.

It is planned to cover the following aspects:

• Why cat models exist and how they’ve evolved
• Basic building blocks (Hazard, Vulnerabilities, Financial aspects)
• What lines of business are typically modeled?
• Secondary modifiers
• Core perils traditionally relied on vs secondary / emerging perils – how do Sub-perils factor in? i.e. storm surge, fire following
• Understanding model uncertainty – model miss, what is and is not intended to be in the “out of the box” results

Interpreting results:

• Acronyms – AAL, OEP, AEP, PML
• Loss perspectives  – GU, GR, RL, TR

How are results used?

• Insurance / Reinsurance, pricing, buying decisions, regulatory responses, rating agencies, etc.
• How do companies use catastrophe models to inform reinsurance transactions?

Ms. Denike is based in Morristown, N.J.  She is  a Managing Director in Guy Carpenter’s Global Strategic Advisory group and specializes in the analysis of catastrophic risk. She began her career with Guy Carpenter more than 30 years ago as a property facultative broker.  After nearly 10 years in that role, she  transitioned to Analytics working in an advisory role in the development of EQECAT’s catastrophe modeling software, at the time a joint venture between Guy Carpenter and EQE.  Since that time, she has focused on managing the deployment of analytics, modeling and placement support for large, complex global accounts across a wide array of classes of business.  Susan graduated from the University at Albany (SUNY) with a degree in Business Administration and subsequently obtained her CPCU designation. 

Ms. Maciorowski is based in Guy Carpenter’s Minneapolis office. She works with a wide spectrum of clients in the analytics department, specifically the catastrophe modeling section. As part of this department, Sarah works with small mutual companies to large, global E&S companies to clean, model, and interpret exceedance probability results using multiple commercial model vendors. Sarah also is a part of Guy Carpenter’s Geospatial Information Systems (GIS) team, where she creates customized maps for clients to better visualize their portfolio. Her GIS skills enable her to supplement traditional analytic responses to client questions with spatial solutions as well.  Sarah studied applied mathematics, business, and stochastics in Chicago’s South Side at the Illinois Institute of Technology where she graduated early. Sarah’s four years of catastrophe modeling experience coupled with her nearly three years of GIS experience fuels her to continue finding the best solutions for Guy Carpenter’s clients.

* The asterisk at the end of this session title denotes that this is another in our “Reinsurance Basic Syllabus Series” of programs, forming part of the “Reinsurance Basic Syllabus”.  This initiative is bringing a series of twelve topics geared towards those professionals who have only recently joined this great industry or who have just a few years of experience.  It is intended to be a “Reinsurance Primer Series” of basic topics and which will be offered on a rolling two-year cycle.  A Certificate will be issued to participants who complete 10 of the 12 topics.  

Registration Fees:
Members: IRUA corporate member professionals – $75
IRUA Individual Members: (not associated with an IRUA member company)- $75
Non-IRUA members – $95

Please Note: Before registering and if you are not sure if your company is an IRUA member, please see the “crawler” on our homepage that features all IRUA member companies.

A NOTE WHEN REGISTERING:
Registration For Members: The non-member rate is set as the default rate. You must be logged in as a member in order to receive the member rate.

First Time Registrants: If you are registering for an event for the first time and are from a member company, please email Jerry Wallis: jwallis@irua.org or Maria Sclafani: mcs@irua.org to be set up as a member so that you can log in and receive the member rate. Once logged in, the system will identify you as being from a member company and the non-member rate will automatically change to the member rate.

IRUA’s FREE WEBINAR!

REGISTRATION: To register for this FREE webinar, just send an email to Jerry Wallis, IRUA Executive Director at jwallis@irua.org. Capacity is limited so register early.

DEMOTECH AND A FLORIDA MARKET UPDATE
February 17, 2022 ♦ 12:00 – 1:00 pm (EST) ♦ Presented Via Zoom

IRUA and Demotech, Inc. are jointly presenting the 2022 Conference at the Marriott Harbor Beach Resort, Fort Lauderdale, Florida over April 25 – 27, 2022.

Demotech’s President, CEO and Co-Founder, Joe Petrelli, will be a featured speaker as well as a moderator of several sessions. This FREE Florida Market Update Webinar will demonstrate Demotech’s critical role in the coastal property insurance marketplace. This webinar will especially benefit IRUA members and attendees who may want a preview prior to the Conference.

Barry J. Koestler, II, CFA, Chief Ratings Officer, and Robert M. Warren, CPCU, CPA (Inactive), Client Services Manager will also represent Demotech.

Demotech is the second largest rating service in the United States based upon count of uniquely rated insurers. It was the first to review and rate independent, regional and specialty insurance companies commencing in 1989.  Their focus on business models, not size, has attracted several Insurtech companies. Demotech recognizes that a company’s business model and reinsurance program (quantity and quality reinsurance™), not its financial size, are essential to its financial stability.

Joseph Petrelli, ACAS, ASA, MAAA has been engaged in the Property & Casualty Insurance industry since 1969, attending the College of Insurance as a work study student, beginning his career at the predecessor to Insurance Services Office, and then holding positions at Agway Insurance Company, Nationwide Mutual Insurance Company, and as a consulting actuary prior to founding Demotech in 1985.

He holds a Bachelor of Science in Actuarial Science from The College of Insurance (now within St. John’s University) and a Master in Business Administration from The Ohio State University.

This presentation will include a discussion of critical balance sheet metrics, thoughts on the characteristics of effective horizontal and vertical reinsurance programs as well as many of the qualitative items that are included in Demotech’s annual review process.

REGISTRATION: To register for this FREE webinar, just send an email to Jerry Wallis, IRUA Executive Director at jwallis@irua.org. Capacity is limited so register early.  

*****Connection information will be emailed to you on Wednesday February 16th, 2022 so please look for it then!*****

For Details of the Conference Agenda, Hotel Bookings, Sponsorship Opportunities and Conference Registration, please visit our website at: www.irua.org

A WALL STREET VIEW OF THE INSURANCE/REINSURANCE INDUSTRY
January 26, 2022 ♦ 12:00 – 1:00 pm (EST) ♦ Presented Via Zoom

Presented By

SETH BAIR
Managing Director
Head of Insurance & Asset Management Investment Banking
Keefe, Bruyette & Woods, a Stifel Company

It’s the New Year so time again for this extremely popular session and IRUA’s first session for 2022.  Mr. Bair will be presenting KBW’s view on the Insurance/ Reinsurance industry.  Always insightful and timely, and following an extremely active 2021 both loss and M&A wise, not to mention the disruption and continuing uncertainty regarding COVID -19 and its variants.

We all look forward to hearing his analysis and views and the potential effects on, and prospects for, the publicly traded insurance and reinsurance market.

Seth Bair is a Managing Director and Head of Insurance and Asset Management Investment Banking of Keefe, Bruyette & Woods. Mr. Bair joined KBW in 1998 and in the last year was appointed sole Head of the firm’s U.S.-based insurance investment banking practice. He is responsible for M&A, public and private capital raisings, mutual conversions and other investment banking services for the insurance industry.

Previously, Mr. Bair was an Analyst in the financial services group of Alex, Brown & Sons, covering insurance companies, depositories and REITs. He received a BA in political economy from Williams College and an MBA from the Wharton School at the University of Pennsylvania.

See: https://kbw.com/about-us/our-team/investment-banking/seth-bair/

Registration Fees:
Members: IRUA corporate member professionals – $75
IRUA Individual Members: (not associated with an IRUA member company)- $75
Non-IRUA members – $95

Please Note: Before registering and if you are not sure if your company is an IRUA member, please see the “crawler” on our homepage that features all IRUA member companies.

A NOTE WHEN REGISTERING:
Registration For Members: The non-member rate is set as the default rate. You must be logged in as a member in order to receive the member rate.

First Time Registrants: If you are registering for an event for the first time and are from a member company, please email Jerry Wallis: jwallis@irua.org or Maria Sclafani: mcs@irua.org to be set up as a member so that you can log in and receive the member rate. Once logged in, the system will identify you as being from a member company and the non-member rate will automatically change to the member rate.

Our 2022 Calendar of Events is current underway.  Click Here to download a copy of the IRUA Preliminary Events Schedule and, check back often to be updated on event dates.

ACTUARIAL PRINCIPLES FOR THE NON-ACTUARY
October 19, 2021 ♦ 12:00 – 1:00 pm Eastern Time (US & Canada)

Please join us  for IRUA’s latest webinar “Actuarial Principles for the Non-Actuary”.  This session is designed not only for the junior underwriter, broker and other (re)insurance professional, but also for the more experienced professional who is looking to increase their knowledge of basic and intermediate actuarial principles.  We will go through the rating process from start to finish and show attendees what trends to look for in the analysis to better price and underwrite your risks.

Be better prepared for discussions with your actuarial colleagues!  Looking forward to seeing you (remotely) there.

Our presenter, Michael Schummer, is a Casualty Underwriting Manager and hold the position of Senior Vice President & Casualty Treaty Team Leader at Munich Re in Princeton, N.J.

Mr. Schummer holds the professional designations of ACAS, MAAA and was born and raised in  Philadelphia. He graduated from Temple University’s Actuarial program in 1991.  He worked at several large national writers in an actuarial capacity, supporting pricing and operations in the field.  After a short stint in Northern California, he moved to American Re (now Munich Re) in Princeton, still in an Actuarial capacity.  Michael moved to underwriting in 2002 and currently has the role of Senior Vice President and a Casualty Team Lead in the Treaty area.

Registration Fees:
Members: IRUA corporate member professionals – $75
IRUA Individual Members: (not associated with an IRUA member company)- $75
Non-IRUA members – $95

Please Note: Before registering and if you are not sure if your company is an IRUA member, please see the “crawler” on our homepage that features all IRUA member companies.

A NOTE WHEN REGISTERING:
Registration For Members: The non-member rate is set as the default rate. You must be logged in as a member in order to receive the member rate.

First Time Registrants: If you are registering for an event for the first time and are from a member company, please email Jerry Wallis: jwallis@irua.org or Maria Sclafani: mcs@irua.org to be set up as a member so that you can log in and receive the member rate. Once logged in, the system will identify you as being from a member company and the non-member rate will automatically change to the member rate.

ALL ABOUT SPACs FOR UNDERWRITERS AND CLAIMS PROFESSIONALS

September 13, 2021 ♦ 12:00 – 1:00 pm Eastern ♦ Presented Via Zoom

Mary Jo Barry of Kaufman Dolowich & Voluck, LLP and Partner Re’s Brad Lo Gatto will explain the underwriting, claims, investment and legal aspects of Special Purpose Acquisition Companies – what they are and the issues associated with these in-vogue but controversial  investment vehicles.

Ms. Barry is Co-Managing Partner of the firm’s New York City and Westchester offices and Mr. Lo Gatto CFA, is Senior Investment Analyst in Partner Re US’s Miami, Florida office.

Registration Fees:
Members: IRUA corporate member professionals – $75
IRUA Individual Members: (not associated with an IRUA member company)- $75
Non-IRUA members – $95

Please Note: Before registering and if you are not sure if your company is an IRUA member, please see the “crawler” on our homepage that features all IRUA member companies.

A NOTE WHEN REGISTERING:
Registration For Members: The non-member rate is set as the default rate. You must be logged in as a member in order to receive the member rate.

First Time Registrants: If you are registering for an event for the first time and are from a member company, please email Jerry Wallis: jwallis@irua.org or Maria Sclafani: mcs@irua.org to be set up as a member so that you can log in and receive the member rate. Once logged in, the system will identify you as being from a member company and the non-member rate will automatically change to the member rate.

ALL ABOUT REINSURANCE STRUCTURES
August 31, 2021 ♦ 12:00 – 1:00 pm Eastern

In this webinar, Duane Hynes, Vice President of Holborn Corporation,  will review the various forms of reinsurance, including net and gross quota share and surplus treaties in proportional reinsurance, and Risk XL, Cat XL and Agg XL treaties in non-proportional reinsurance. He will discuss why ceding companies buy these reinsurance structures as well as the differences between facultative and treaty.
This event is geared to an intermediate level of experience and so is suitable for all.

Registration Fees:
Members: IRUA corporate member professionals – $75
IRUA Individual Members: (not associated with an IRUA member company)- $75
Non-IRUA members – $95

Please Note: Before registering and if you are not sure if your company is an IRUA member, please see the “crawler” on our homepage that features all IRUA member companies.

A NOTE WHEN REGISTERING:
Registration For Members: The non-member rate is set as the default rate. You must be logged in as a member in order to receive the member rate.

First Time Registrants: If you are registering for an event for the first time and are from a member company, please email Jerry Wallis: jwallis@irua.org or Maria Sclafani: mcs@irua.org to be set up as a member so that you can log in and receive the member rate. Once logged in, the system will identify you as being from a member company and the non-member rate will automatically change to the member rate.

REINSURANCE PROPERTY UNDERWRITING AUDITS *
July 1, 2021  ♦  12:00 pm – 1:30 pm  ♦ Powered via Zoom

Presenters:
Christiane Gross, Sr. VP & Property Underwriting Team Lead
Munich Reinsurance America, Inc.

John Ferris, President & CEO
JC Ferris Advisors, Inc.

This virtual seminar is geared to all levels of experience on conducting property underwriting audits of ceding companies.  They will cover such areas as audit goals, audit types and how to prepare for and conduct a property underwriting file.  This highly practical webinar will address what underwriting topics you should review, how you can differentiate by portfolio and client and, finally, how you can address your findings. Your two highly experienced presenters backgrounds are:

Ms. Gross is a Senior Vice President and Property Underwriting Team Lead at Munich Reinsurance America, Inc. in Princeton, NJ. Christiane started her career with Munich Re in Germany in 2002, first in Munich’s Industrial Clients division and later in Munich’s Global Clients/ North America division, holding various property facultative and treaty underwriting positions.

Christiane relocated to Munich Re America in 2014 to service Regional Clients in the United States as a Property Treaty Underwriter. In 2018 she became a Team Lead for Property Facultative and Reinsurance Program business. She holds a degree in international business from the Reutlingen University in Germany. She is a member of the APIW and serves on the Board of the IRUA. In November 2019 Christiane assumed the role of IRUA’s Corporate Treasurer, thus joining the Executive Committee.  In April 2021 she was elected to IRUA Vice President and will continue her role as Co-Chair of the IRUA Education Committee.

John C. Ferris is the President and CEO of JC FERRIS ADVISORS, Inc., an underwriting auditing and consulting firm serving the reinsurance community. John has 38 years of property underwriting and risk management experience in the insurance/reinsurance sectors. He started his career with Wausau Insurance Company as a property underwriting trainee in New York City, which laid the groundwork for his future professional endeavors.

From there, John grew his experience as a Senior Property Primary Underwriter at Commerce & Industry, as well the Senior Vice President and Division Manager with Gerling Global Reinsurance Corp. of America. Prior to founding his company, JC FERRIS ADVISORS, Inc. in 2017, John lent his professional experience in several capacities at Partner Reinsurance Company of the U.S. He worked as one of three property underwriting auditors, served as Vice President and Manager of the Risk Management/Catastrophe Modeling Function, and as a Vice President and Underwriter of the company’s National Accounts team.

After receiving his Bachelor of Business Administration from Iona College, John went on achieve a Masters in Business Administration at Fordham University. He also has CPCU, ARe, and ARM designations.

Registration Fees:
Members: IRUA corporate member professionals – $75
IRUA Individual Members: (not associated with an IRUA member company)- $75
Non-IRUA members – $95

Please Note: Before registering and if you are not sure if your company is an IRUA member, please see the “crawler” on our homepage that features all IRUA member companies.

A NOTE WHEN REGISTERING:
Registration For Members: The non-member rate is set as the default rate. You must be logged in as a member in order to receive the member rate.

First Time Registrants: If you are registering for an event for the first time and are from a member company, please email Jerry Wallis: jwallis@irua.org or Maria Sclafani: mcs@irua.org to be set up as a member so that you can log in and receive the member rate. Once logged in, the system will identify you as being from a member company and the non-member rate will automatically change to the member rate.